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Bastiaan Moossdorff

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Habib Al Mulla & Partners, a member firm of Baker & McKenzie International successfully represented a global e-commerce company in a series of appeals filed against administrative penalties imposed by the Federal Tax Authority (“FTA”) in connection with delayed payment of VAT due. The UAE Federal Supreme Court recently dismissed an appeal filed by the FTA to impose administrative fines and penalties against the company, and ordered that the FTA to repay the full amount…

In brief The UAE Ministry of Finance (“MoF”) yesterday announced the introduction of a corporate tax (“CT”) regime that will apply to businesses. It will become effective for financial years starting on or after 1 June 2023. The headlines are that the tax rate will be 0% for taxable income up to AED 375k and 9% on taxable income above AED 375k. Large businesses (expected to be those with revenue above EUR 750m) may be…

Several modes of settlement of administrative penalties now introduced – pay 50% in cash or through a guarantee and your tax challenge will be admissible! The UAE Federal Tax Authority (FTA) will today start implementing new procedures to facilitate the ease for tax registrants to submit reconsideration requests and objections to the FTA’s decisions, for implementing the decisions of the Tax Dispute Resolution Committee (TDRC), appeal procedures, controls for reducing administrative penalties, the payment of…

In brief Our Middle East Tax Newsletter aims to provide you with regular updates, insights and practical guidance on the tax implications of doing business in the region. In this issue, we provide a roundup of the current status of Value Added Tax (VAT) and the most recent tax related developments across the Gulf Cooperation Council (GCC), as well as their implications on the financial position of businesses. Oman VAT On 12 October 2020, it…

In brief The United Arab Emirates (UAE) has made significant changes to its Economic Substance regime, with the UAE Cabinet of Ministers recently issuing Cabinet Decision No. (57) of 2020 (the new ESR Resolution). The new ESR Resolution repeals and replaces Cabinet Resolution No. (31) of 2019, as amended, and Cabinet Resolution No. (58) of 2019, which was published in June 2019. The Ministry of Finance also updated its Guidance via Ministerial Decision No. (100)…